Russian stocks fall on US manufacturing data, weak ruble

MOSCOW, Aug 17 (PRIME) -- The Russian stock market fell on Monday in line with global trading floors on U.S. manufacturing statistics and amid a weak ruble, which put the dollar-denominated RTS under extra pressure, analysts said.

The MICEX fell 0.26% to 1,707.95 and the RTS decreased 1.20% to 825.12.

“There was a negative external background for the Russian market today. In the morning, the market growth was curbed by the Brent price decline; in the evening, despite the oil price rebound, the U.S.’ Empire (State) Manufacturing index data, which unexpectedly showed a negative business activity in the processing sector in the New York district, were a new driver for the market decline,” Vasily Tanurkov, deputy head of stock market analysis department at Veles Capital, said.

“The U.S. data put all global trading floors under pressure, including the Russian stock market,” he said.

The RTS was under increased pressure because of a still weak ruble, which failed to rebound to below 65 against the U.S. dollar by the closing bell, while the fall of the MICEX was limited by a support level of 1,700 points, Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

Aluminum giant RUSAL jumped 6.86% to 327 rubles per Russian depositary receipt (RDR), continuing the rise from August 14, as investors expect the company’s board of directors to give dividend recommendations for January–June on August 26, Tanurkov said.

Russian oil exporter Surgutneftegas rose 1.68% to 39.25 rubles per preferred share, as the company, which has huge reserves denominated in foreign currency, is attractive on the back of weak ruble and Brent, Manzhos said.

Below are the MICEX’ five most active stocks on Monday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.92	73.00	6.916
Gazprom	-0.38	144.25	3.492
Norilsk Nickel	-0.61	10000.00	2.607
Lukoil	-0.24	2554.90	2.091
Surgutneftegas pref	+1.68	39.25	1.561

(64.9363 rubles – U.S. $1)

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